FRANKFURT (AP) -- Volkswagen AG said it has appointed Wolfgang Schreiber to head of its commercial vehicles division effective Monday.
Schreiber, an engineer who has been with VW since 1984, replaces Stephan Schaller, who is leaving the company.
Schreiber has been on the VW commercial vehicles board of management responsible for development since 2006. He was chief of gearbox development for the Volkswagen brand in 1996 and then moved to VW's high-end sportscar brand Bugatti in 2003, taking up the post of engineering technical director. Schreiber continues to hold the post of managing director at Bugatti Engineering.
The commercial vehicles division includes the Caddy and Transporter lines of vans and the Crafter line of light trucks. VW is Europe's largest carmaker by sales.
Shares of Volkswagen were three and half percent higher at euro65.50 ($91.05) in Frankfurt afternoon trading.